ECB-Monetary developments in the euro area: January 2024

February 27, 2024--Annual growth rate of broad monetary aggregate M3 stood at 0.1% in January 2024, after 0.2% in December 2023 (revised from 0.1%)
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, stood at -8.6% in January, compared with -8.5% in December
Annual growth rate of adjusted loans to households stood at 0.3% in January, compared with 0.4% in December

Annual growth rate of adjusted loans to non-financial corporations decreased to 0.2% in January from 0.5% in December

Components of the broad monetary aggregate M3

The annual growth rate of the broad monetary aggregate M3 stood at 0.1% in January 2024, after 0.2% in December, averaging -0.2% in the three months up to January. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, stood at -8.6% in January, compared with -8.5% in December.